USD/JPY rises further to 12-week highs

FXStreet (Córdoba) - The USD/JPY continues to rally and climbed to 102.86, hitting the highest price since May 2. Price continues with a bullish tone, trading near the highs, up 0.70% from today’s opening price.

The US dollar is soaring across the board while the Yen is the worst performer among majors weakened by US data and ahead of the FOMC statement. “The data today likely heightens the risk that there is a hawkish dissent and Dallas Fed President Fisher is the most likely candidate”, said Marc Chandler, Global Head of Currency Strategy at BBH.

USD/JPY eyes 103.00

The pair is headed toward the highest daily close in three months and has approached 103.00. The last time it reached 103.00 was on May 2, after the release of the April US employment report.